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Workers’ compensation fraud is a serious issue that can cost employers a great deal of money. In 2019, the United States Department of Labor reported that employees and employers paid a combined $30 billion in workers’ compensation premiums.
The U.S. Chamber of Commerce estimates that more than 27 billion dollars are lost yearly due to workers’ compensation fraud. Limiting or eliminating this abuse should be a priority for any organization looking to protect its bottom line from the impact of fraudulent claims.
Fortunately, there are some effective strategies employers can use to reduce the chances of employees committing workers’ comp fraud. In today’s blog post, we’ll cover four key steps you can take to limit potential offenders and protect your business from costly losses.
1- Create a Culture of Compliance
The key to preventing fraud is creating and fostering a culture of compliance. Make sure that all employees are aware of and understand why it’s important to follow policies and procedures related to workplace safety and workers’ comp insurance. Additionally, provide incentives for employees who abide by these policies, as this will encourage others to do the same.
2- Investigate Claims Thoroughly
Another way to fight workers comp fraud is when an employee files a claim, make sure that you thoroughly investigate the incident before signing off on any payments or authorizations. If possible, interview witnesses and review documents such as medical records related to the injury or illness. Additionally, check if any other claims have been filed for the same or similar incidents. This will help you identify any potentially fraudulent activities early on.
3- Maintain Open Communication wit… Read More
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